MANAPPURAM

Manappuram Finance Limited

Gold loan and retail lending NBFC with housing finance subsidiary

Financial Services›Financial Services›Finance›Non Banking Financial Company (NBFC)

manappuram.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹323.95
Market cap
30,397 Cr
Stock P/E
21.0
P/B
1.90
Dividend yield
0.6%
ROE (FY26)
6.2%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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What you need to know

Manappuram Finance is a non-banking financial company (NBFC) in India that lends mainly against gold, with gold loans making up 82% of its consolidated assets under management (AUM) in Q1 FY27 (August 2026 call).

Company snapshot

14thBy market cap

Ranked among 58 companies in Non Banking Financial Company (NBFC).

Segment mix

Reportable segments as of 2024-12-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.

Largest segment: 74.1% of revenue

SegmentRevenue shareRevenuePBTAssets
Gold loan and others
74.1%
1,897 Cr629 Cr39,869 Cr
Micro Finance
26.0%
665 Cr-253 Cr11,279 Cr

What we see

Concerns
  • ✗Operating cash flow is negative even though the company shows a profit — the business may not be generating real cash yet.
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Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Net Interest Income1,354 Cr1,452 Cr1,494 Cr1,538 Cr—1,591 Cr1,444 Cr1,380 Cr1,376 Cr1,299 Cr1,403 Cr1,724 Cr
Other income17 Cr21 Cr2 Cr24 Cr4 Cr3 Cr4 Cr3 Cr2 Cr6 Cr12 Cr6 Cr
Net operating income1,372 Cr1,474 Cr1,497 Cr1,561 Cr4 Cr1,594 Cr1,447 Cr1,383 Cr1,378 Cr1,305 Cr1,415 Cr1,730 Cr
Employee cost375 Cr413 Cr416 Cr446 Cr448 Cr448 Cr500 Cr474 Cr444 Cr502 Cr489 Cr497 Cr
Other expenses171 Cr151 Cr154 Cr154 Cr167 Cr166 Cr195 Cr178 Cr195 Cr160 Cr154 Cr168 Cr
Provisions & contingencies————————————
Depreciation63 Cr62 Cr65 Cr64 Cr67 Cr70 Cr66 Cr75 Cr79 Cr77 Cr75 Cr78 Cr
Profit before tax747 Cr786 Cr746 Cr753 Cr773 Cr376 Cr-236 Cr102 Cr302 Cr303 Cr564 Cr782 Cr
Tax %24.9%26.8%24.4%26.1%26.0%26.0%13.9%-30.5%28.0%21.2%28.2%25.2%
Net profit561 Cr575 Cr563 Cr557 Cr572 Cr278 Cr-203 Cr132 Cr217 Cr239 Cr405 Cr585 Cr
EPS (₹)₹6.62₹6.79₹6.66₹6.58₹6.75₹3.29₹-2.40₹1.57₹2.57₹2.82₹4.77₹6.23

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Net Interest Income——2,693 Cr3,385 Cr—3,828 Cr4,253 Cr5,589 Cr6,225 Cr5,465 CrSign in free for the trailing twelve months
Other income24 Cr53 Cr63 Cr86 Cr44 Cr65 Cr66 Cr72 Cr34 Cr15 CrSign in free for the trailing twelve months
Net operating income24 Cr53 Cr2,755 Cr3,471 Cr44 Cr3,894 Cr4,319 Cr5,661 Cr6,259 Cr5,480 CrSign in free for the trailing twelve months
Employee cost503 Cr617 Cr720 Cr830 Cr843 Cr1,125 Cr1,469 Cr1,597 Cr1,842 Cr1,851 CrSign in free for the trailing twelve months
Other expenses509 Cr747 Cr571 Cr456 Cr366 Cr496 Cr515 Cr622 Cr681 Cr676 CrSign in free for the trailing twelve months
Provisions & contingencies——————————Sign in free for the trailing twelve months
Depreciation63 Cr68 Cr75 Cr164 Cr171 Cr198 Cr204 Cr246 Cr267 Cr307 CrSign in free for the trailing twelve months
Profit before tax1,166 Cr1,017 Cr1,427 Cr2,007 Cr2,316 Cr1,784 Cr2,041 Cr2,960 Cr1,666 Cr1,270 CrSign in free for the trailing twelve months
Tax %34.9%34.3%34.9%26.3%25.5%25.5%26.5%25.7%27.7%21.8%Sign in free for the trailing twelve months
Net profit758 Cr671 Cr929 Cr1,480 Cr1,725 Cr1,329 Cr1,500 Cr2,197 Cr1,204 Cr993 CrSign in free for the trailing twelve months
EPS (₹)₹8.98₹7.97₹11.03₹17.54₹20.40₹15.70₹17.72₹25.96₹14.22₹11.72Sign in free for the trailing twelve months
Dividend payout %————6.4%19.1%17.5%-13.4%28.1%17.0%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital168 Cr169 Cr169 Cr169 Cr169 Cr169 Cr169 Cr169 Cr169 Cr188 Cr
Reserves3,193 Cr3,668 Cr4,356 Cr5,577 Cr7,138 Cr8,199 Cr9,476 Cr11,379 Cr12,263 Cr15,863 Cr
Borrowings9,403 Cr10,524 Cr15,297 Cr21,817 Cr22,716 Cr24,118 Cr28,483 Cr33,653 Cr35,404 Cr57,246 Cr
Other liabilities2,363 Cr2,846 Cr586 Cr1,330 Cr1,267 Cr1,308 Cr1,356 Cr1,517 Cr1,352 Cr1,256 Cr
Total liabilities15,152 Cr17,232 Cr20,454 Cr28,951 Cr31,338 Cr33,811 Cr39,504 Cr46,748 Cr49,205 Cr74,559 Cr
Fixed assets (net)183 Cr269 Cr312 Cr327 Cr287 Cr353 Cr432 Cr440 Cr506 Cr501 Cr
CWIP0.63 Cr0.15 Cr0.89 Cr3 Cr8 Cr13 Cr16 Cr33 Cr11 Cr27 Cr
Investments5 Cr5 Cr174 Cr90 Cr338 Cr421 Cr534 Cr726 Cr788 Cr2,051 Cr
Loans & advances——17,812 Cr23,189 Cr26,508 Cr28,971 Cr34,195 Cr40,948 Cr42,252 Cr62,844 Cr
Trade receivables——3 Cr2 Cr3 Cr————0 Cr
Cash & bank555 Cr699 Cr840 Cr3,293 Cr2,548 Cr2,371 Cr2,500 Cr2,550 Cr1,620 Cr5,048 Cr
Other assets14,408 Cr16,259 Cr1,312 Cr2,045 Cr1,647 Cr1,682 Cr1,827 Cr2,050 Cr4,028 Cr4,089 Cr
Total assets15,152 Cr17,232 Cr20,454 Cr28,951 Cr31,338 Cr33,811 Cr39,504 Cr46,748 Cr49,205 Cr74,559 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity-1,271 Cr-1,072 Cr-343 Cr-3,625 Cr-619 Cr-423 Cr-3,103 Cr-9,681 Cr2,621 Cr-20,238 Cr
Cash from investing-25 Cr-252 Cr-370 Cr26 Cr-186 Cr-193 Cr-616 Cr-320 Cr-1,588 Cr-1,632 Cr
Cash from financing1,211 Cr1,362 Cr1,069 Cr6,052 Cr59 Cr438 Cr3,849 Cr10,051 Cr-1,956 Cr23,834 Cr
Net cash flow-84 Cr38 Cr356 Cr2,453 Cr-747 Cr-177 Cr130 Cr49 Cr-922 Cr1,965 Cr
Free cash flow (OCF − Capex)-1,325 Cr-1,234 Cr-471 Cr-3,726 Cr-672 Cr-438 Cr-3,103 Cr-9,681 Cr2,477 Cr-20,438 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROE %22.3%17.4%20.3%25.3%23.4%15.8%15.5%18.9%9.8%6.2%
Debt / equity2.802.743.383.803.112.882.952.912.853.57